Cyber Security - Is your Auto Dealership Prepared?

Two years after General Motors hired its first Chief Product Cyber Security Officer the auto industry released its first ever cybersecurity best practices guide. With the cybersecurity threat expanding rapidly we have to ask ourselves…what’s next?

Cybersecurity is a well-known threat, especially to the auto industry. It is not only the auto dealer’s internal operational and financial systems, but the cars themselves, that pose a cybersecurity threat. As reported by Forbes, it is expected that by the Mid-2020s all new vehicles will have data connections. We have seen significant communication advances between manufacturers and cars. Current products exist where auto dealerships can download and monitor activity of their customers’ vehicles on a real time basis. Faced with statistics like this, now is a more critical time than ever, to take steps to get ahead of hackers.

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Tax Angles for Self-Employed Individuals

Being self-employed has its advantages and disadvantages. As the person in charge of your business affairs, you can set your own schedule and generally have more flexibility than someone in a 9-to-5 job. On the other hand, you are fully responsible for the bottom line, often with little or no backup to rely on.

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Reach Into This Grab Bag of Deductions - How to Write Off Miscellaneous Expenses

As we near the end of tax filing season, you might be looking to increase the number of itemized deductions you can use to offset highly taxed ordinary income. What about the grab bag of expenses known as miscellaneous expenses? If you qualify, you might be able to deduct a portion of those expenses on your 2016 tax return.

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Business Driving Deductions: A Fork in the Road – Compare Actual Expenses with Flat-Rate Method

Did you use your vehicle for business driving in 2016? Generally, you can deduct expenses on your tax return in one of two ways: the actual expense method or the IRS-approved standard mileage rate. Here is a brief comparison:

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How to Bridge a Retirement Shortfall - Practical Ideas for Closing the Gap

People are living longer these days than they did five, 10 or 20 years ago. Of course, that is good news, but it also means that you may have to provide a bigger cushion in retirement than you had initially intended. What’s more, uncertainty over future Social Security benefits as baby boomers continue to swell the rolls adds to the concerns. As a result, you could face a personal shortfall, especially if you incur unforeseen expenses from a medical condition or some other situation.

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